President-elect Barack Obama’s inauguration could be the most costly in history.
According to The Washington Post, Obama has raised about $24 million of the $45 million the ceremony will cost. Much of that money has been rolling in in the form of personal checks of $25,000 or $50,000 from executives from Silicon Valley, Wall Street and Hollywood, as well as from former supporters of Sen. Hillary Clinton.
Among the wealthy high-profile donors are billionaire financier George Soros; director Steven Spielberg; actress Halle Berry; and Motown Records founder Berry Gordy Jr. President Bush’s inauguration cost $43 million, which is the most spent on the ceremony to date.
According to the inaugural committee’s Web site, about 1,200 people have contributed $200 or more. “The big donors include 189 bundlers, who have collected $21.6 million of the $24.8 million (many also gave $50,000 themselves).”